UFXMarkets *Weekly FX Currency Trading News* 1-January-2012

Hi, I’m Martin Smith and this is your UFX Markets Week in Review. Today, we will cover
some of the major events of the past week and discuss how they impact the global currency
markets. German Chancellor, Angela Merkel, said that
she is expecting turbulence in 2012, as she does ‘everything’ to save the Euro and
end the sovereign debt crisis in Europe. Merkel will meet with French President, Sarkozy on
January the 9th to discuss revisions for Europe’s fiscal regulations. A final agreement on German-French
proposals is due by leaders of the Euro Zone in March.
The Euro had a second consecutive annual loss for the first time in ten years versus the
US Dollar. Last Friday the Euro was trading at 1.2957, which is a decrease of -0.02%.
The US Dollar decreased for a second year against the Japanese Yen and was trading at
an average of 79.71 yen per US Dollar in 2011, which was one of its weakest years.
The US Dollar was last seen trading against the Japanese Yen at the level of 76.85, which
is a decrease of -0.99%. The Canadian Dollar averaged 98.92 Canadian
cents to the US Dollar in 2011, which is its strongest annual value since 1976. This can
be attributed to investors seeking out assets that are considered a safe haven from the
debt problems in the Euro area. The Canadian Dollar was last trading at the
level of 1.0210, which is an increase of 0.12%. The British Pound was trading at a 2 and a
half month low last Thursday against the US Dollar, after 'weak demand' at an Italian
bond auction heightened speculation that the European debt crisis could worsen next year.
Some analysts are expecting the British Pound to decrease against the US Dollar in 2012
as heightening European debt problems could affect the British financial sector.
The British Pound was last seen trading at 1.5521, which is an increase of 0.69%.
In Commodities, crude futures are heading for a third yearly advance on signs of an
economic recovery in the USA and on increasing geopolitical tensions in the Middle East,
which are pushing up the price of oil. The USA is the world's biggest oil consumer. Crude
Oil was last trading at 98.83, which is a decrease of -0.82%.
Well, that is all the time we have for today. I hope you’ve enjoyed this week’s review
and you'll join us next week. Until then, be sure to visit us at UFXMarkets.com for
all of your online trading needs. For UFXMarkets, I’m Martin Smith. Good luck and happy trading.